Facebook IPO: Greatest Hits of the S-1, So Far
Rob Long ·
February 2, 2012 at 3:02am
Facebook is planning an IPO, and has filed its S-1 today. Among the interesting nuggets contained within:
- The ticker symbol will be, predictably, I guess, FB.
- Facebook claims 845 million active users, 2.7 billion "likes" and "comments" every day, 250 million photos uploaded daily, and 100 billion friendships on the network. We're so used to these kinds of numbers that it's hard to remember that the only legitimate response to this is: Holy Cow! That's an amazing accomplishment for a company so young.
- For some reason, Erskine Bowles is listed as holding 20,000 reserve stock units. There's probably an interesting story there.
- After the IPO prices and the "lock up" period is over, there will still be time for everyone to sell stock, make a zillion dollars, and avoid the 2013 tax hikes on capital gains. This, despite founder Mark Zuckerberg's famous willingness to pay more in taxes.
- 12% of Facebook's 2011 revenue comes from Zynga, the company that brought us Words With Friends and Farmville. That's astonishing, and a little bit disconcerting, since Zynga has reported pretty volatile earnings, and has management issues as well.
- And finally, the crybaby from the movie "The Social Network," Eduardo Saverin, is going to get rich too. I knew you were concerned about that.
Would you buy that stock? And if your answer is yes, could you put a little money aside for the Ricochet S-1, which we'll be filing as soon as we hit $1 billion in revenues, as Facebook did last year.
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Aug '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
these clintonistas are screwed in at the highest levels
Dec '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
So how much of the stock is reserved for congresscritters?
Re: Facebook IPO: Greatest Hits of the S-1, So Far
Erskine Bowles is on the Facebook board. Other prominent Washington insiders who work for Facebook include Joe Lockhart, a former White House spokesman under Clinton; Marne Levine, who was chief of staff of the National Economic Council; and Joel Kaplan, a deputy chief of staff in the Bush administration. Former Obama Press Secretary Robert Gibbs was reported to be going to work there as well, but did not end up joining the company. That decision probably cost him a couple of million bucks.
Aug '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
I'd buy the stock if I got some in the deal. Guaranteed the price will increase over 100% the morning after pricing...
May '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
Good for Reed Hastings. That should take the sting out of the recent Netflix beatdown.
Bowles made his career in investment banking, but I'm surprised to see him hooked up here. Zuckerberg and Don Graham have had a bromance going for several years, which may hint at a connection (not to mention that the Zuckerberg-Graham relationship seems awfully similar to Warren Buffett's mentorship of a young Don Graham, and Buffett's close to Bill Gates, who is a Harvard dropout like Zuckerberg). That's total speculation, though.
Paging Trace Urdan....
Mar '11
Re: Facebook IPO: Greatest Hits of the S-1, So Far
I want a hate button.
No hate button, no dice.
Nov '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
I would not buy it. Although…I thought the IPO was only open to family and employees. Is the IPO actually open to the general public?
I get this feeling that Facebook is at its apex. My “friends” who are in their mid- twenties (I am ….cough…in my mid…ahem….late fifties) don’t post much in the last few months.
I noticed a few months ago that their posts where all twitter connected. They post on twitter and the post is copied to Facebook. Those 20 somethings don’t show up on my feed anymore. More recently I noticed "pinterest". People who talked on FB about invites to that site…I don’t see them posting their every single wayward thought anymore.
As for my age bracket ……(hey…I heard that)….how annoyed am I with FB? And I’m not alone. I know I am a commodity. But changing things so regularly doesn’t work for my bracket.
So, in my opinion, the Facebook IPO is a no. Only available to a select few, an entity that is likely played out, plus I Hate Face Book. Always have. I am sure I’m on a “list” somewhere.
Re: Facebook IPO: Greatest Hits of the S-1, So Far
I think the simplest way to participate in the IPO is to buy shares in the T. Rowe Price funds that own the pre-IPO shares. They invested in the company while ago, and are about to reap the benefit. That is, if you're bullish on FB.
Mar '11
Re: Facebook IPO: Greatest Hits of the S-1, So Far
Last report I read those who were not insiders and jumped on IPOs day one on average lost approximately 50% of their investment. Facebook stakeholders, Morgan Stanley, J.P. Morgan and Goldman Sachs are going to receive fantastic returns on this. For anyone else considering it: just go to Vegas, find a roulette wheel and put your money on Red.
May '11
Re: Facebook IPO: Greatest Hits of the S-1, So Far
Not buying. Too old, I guess. I was on for a few weeks and left. I just don't get it.
I avoid investing in what I don't understand.
Nov '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
This might be for another thread....but how can a fund buy pre-shares before the company even files the paperwork to create shares? *eyes Rob* Is this info everyone has and I'm just naive? Is it like pre-ordering a CD on Amazon before the Album release date? Wonder why Fox Business stipulated that the sale was not open to the public.
eta: *stipulated is too strong a word. I got the impression from FBN's report that the general public was excluded from the sale. *
Edited on February 2, 2012 at 4:28amJan '11
Re: Facebook IPO: Greatest Hits of the S-1, So Far
So many people digitizing their lives. I suppose there must be absolutely no risk in signing up, or perhaps the fun is worth it.
Aug '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
To Rob's point: T Rowe Price may have been a private investor over the past several years.
This is my business: This IPO is going to be the hottest deal since Google's IPO 10 +/- years ago. The Liars Poker that is pre-deal Wall Street IPO will be at its most intense for this one. Morgan Stanley, the book runner, is going to collect well in excess of 3x the shares they've got for sale, they're going to increase the size of the deal just before pricing, they're going to price above the range, the institutions that get good allocations are going to be large aftermarket buyers; MS' best institutional clients will wind up with most of the stock. It is all writ large.
May '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
David Horwich: To Rob's point: T Rowe Price may have been a private investor over the past several years.
This is my business: This IPO is going to be the hottest deal since Google's IPO 10 +/- years ago. The Liars Poker that is pre-deal Wall Street IPO will be at its most intense for this one. Morgan Stanley, the book runner, is going to collect well in excess of 3x the shares they've got for sale, they're going to increase the size of the deal just before pricing, they're going to price above the range, the institutions that get good allocations are going to be large aftermarket buyers; MS' best institutional clients will wind up with most of the stock. It is all writ large. · 1 minute ago
So...when do we go short?
Oct '11
Re: Facebook IPO: Greatest Hits of the S-1, So Far
And the hidden beneficiary is: the state of California. Isn't their top income tax rate north of 10%? That applies to capital gains for residents, which I am guessing most Facebook sellers are? What if $50 billion is sold by the owners? That could be a $5 billion cut for the Bear State. Looks like Jerry Brown has hit the jackpot.
Aug '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
Keith Preston
David Horwich: To Rob's point: T Rowe Price may have been a private investor over the past several years.
This is my business: This IPO is going to be the hottest deal since Google's IPO 10 +/- years ago. The Liars Poker that is pre-deal Wall Street IPO will be at its most intense for this one. Morgan Stanley, the book runner, is going to collect well in excess of 3x the shares they've got for sale, they're going to increase the size of the deal just before pricing, they're going to price above the range, the institutions that get good allocations are going to be large aftermarket buyers; MS' best institutional clients will wind up with most of the stock. It is all writ large. · 1 minute ago
So...when do we go short? · 8 minutes ago
Just before the lockup expires. The market will be flooded with stock.
And to Jolly Roger: those CA residents have to actually sell their stock before the state cashes in....one time only...
Jun '11
Re: Facebook IPO: Greatest Hits of the S-1, So Far
The Bowles part is interesting. With the huge failure of Bev Perdue as Governor of NC, and her refusal to face the voters in November, his name is out there as the only one who can keep the NC Governorship in the Democrat column. Looks now like he might be self-financing too.
Jun '11
Re: Facebook IPO: Greatest Hits of the S-1, So Far
BTW, Bowles just announced he won't run. Republican Pat McCrory is the favorite to be the next Governor of the Tar Heel state. Now, back to regularly scheduled fb comments.
Aug '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
"Never invest in an industry you don't fully understand."
No, I would not buy that stock.
The only time I made a significant profit on an individual stock, it was a brewery.
I like beer.
Edited on February 2, 2012 at 6:13pmAug '10
Re: Facebook IPO: Greatest Hits of the S-1, So Far
I used to make fun of people who were paranoid about Facebook's data-mining and privacy. After all, said moi, nobody forces anybody to use Facebook. It's a private company, not the government.
Now that I know that Facebook's executive offices are full of influential, high-powered Democrats, I may have to adjust my opinions about the privacy issues surrounding Facebook.
Those guys are not unbiased businessmen. They have a political agenda.